Tesco PLC Tesco and Carrefour Long-Term Strategic Alliance (1644T)
July 02 2018 - 2:00AM
UK Regulatory
TIDMTSCO
RNS Number : 1644T
Tesco PLC
02 July 2018
Tesco PLC
LEI Number: 2138002P5RNKC5W2JZ46
2 July 2018
TESCO AND CARREFOUR TO CREATE LONG-TERM STRATEGIC ALLIANCE
Tesco and Carrefour are announcing their intention to enter into
a long-term, strategic alliance.
The Alliance will cover the strategic relationship with global
suppliers, the joint purchasing of own brand products and goods not
for resale. It will be governed by a three-year operational
framework.
The Alliance will enable both companies to improve the quality
and choice of products available to their customers, at even lower
prices thereby enhancing their competitiveness. This agreement will
also allow both companies to strengthen their relationships with
their suppliers and create significant opportunities for those
suppliers. Each company will continue to work with supplier
partners at a local and national level.
It is anticipated that the Alliance will be formally agreed
within the next two months. Following formal agreement, both
parties will start to work towards realising the benefits outlined
above.
Dave Lewis, Tesco Group Chief Executive, said:
"I'm delighted to be entering into a strategic alliance with
Carrefour. By working together and making the most of our
collective product expertise and sourcing capability, we will be
able to serve our customers even better, further improving choice,
quality and value."
Alexandre Bompard, Chairman and CEO of Carrefour Group,
said:
"This strategic alliance between Carrefour and Tesco is a major
agreement as it combines the purchasing expertise of two world
leaders, complementary in their geographies, with common
strategies. This agreement is a great opportunity to develop our
two brands at the service of our customers. This international
alliance further strengthens Carrefour allowing it to reach a key
milestone in the implementation of its strategy."
Contacts
Tesco
Investor Relations: Chris Griffith +44 (0)1707 912 900
Media: Jane Lawrie +44 (0)1707 918 701
Carrefour
Investor Relations: +33 (0) 1 41 04 28 83
Group Communications: +33 (0) 1 41 04 26 17
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ALLDMGGNGMKGRZZ
(END) Dow Jones Newswires
July 02, 2018 02:00 ET (06:00 GMT)
Tesco (LSE:TSCO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tesco (LSE:TSCO)
Historical Stock Chart
From Apr 2023 to Apr 2024